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Contacting Your Database – How to Achieve More for Less
Connectionsb2b • June 8, 2020
Do you want more clients, or do you need more business?
What’s the difference? Well, both would increase your profits, but one is easier to get than the other and likely to require less time, energy and perhaps most importantly for you - money.
When most business owners are asked what they’d like more of the most common answer is, more customers/clients. Every business wants more income and with it, more profit.
And despite what you may think, this can actually be achieved without launching a new and costly marketing campaign designed to get you more clients.
You see, what you want is more business, not more clients. There is a difference, and there is significant value in your existing clients and more specifically your existing database of client details.
Option 1 More Clients:
This requires much more work. Why? Firstly, you need to find these clients, then you need to market to them, convince them of your credibility/expertise (positioning) and then you must convert them from a prospect into a client. This is a time-consuming process that requires marketing spend and a functioning sales funnel. In short, it takes time and effort.
Option 2 More Business:
The client you have is like the client you want. You can reconnect with your past and present clients much more easily and find out what you can do for them e.g. upsell or cross-sell.
This is not to say that it is easy, but it is significantly easier to sell to someone who has already purchased from you in the past and views you as a trusted source (know, like and trust).
So, the question is: are you making the most of your database?
What do I mean by this? Are you communicating with your database on a regular basis? Because if you’re not then you are wasting a golden opportunity to not only continue to build and enhance your relationship with your clients, but also to increase your profits.
Your list of past and present clients (your email list) is your lowest hanging fruit
and your business’ most valuable asset.
If you connect and communicate with your list on a regular basis you are far more likely to obtain repeat business
or be in a position to cross and upsell
your present clients to different products or services e.g. in our business when someone instructs one our solicitors to help them buy or sell a house we will make them aware of our Private Client Department where they can update their Will after their property transaction has been completed – this is an example of cross selling and results in a significant boost to our business’ profits. But perhaps even more importantly it provides a complete service for our clients not only providing them with security/expert legal services, it also makes their life much easier and hassle free as they don’t need to go elsewhere to update their Will (something they may not have thought about had it not been mentioned to them at the time).
Now, if we did not do this what would happen?
Well for one, as I alluded to above, the client would not have an updated Will which would leave them vulnerable should an unfortunate and unexpected event happen in the future. So first and foremost they would not be receiving the best possible service. But secondly, if we did not offer this service and the client did decide to update their Will in the future, they may use another firm of solicitors (particularly if they are moving out of the area) and we would have lost a valuable piece of work simply because we did not communicate our services to them effectively). We all like to think that customers and clients will remember us, but life is busy and as humans we can be lazy (how many times have you Googled something and gone with the first option that appears at the top of the list? We’ve all done it). We can’t expect to rely on our customers’ loyalty or them remembering us months, sometimes years later, so we must stay in touch and remind them of the important products and services we can offer them to make their lives that bit easier. Communication is essential. So, how much are you leaving on the table so to speak by not communicating with your existing database?
Not only does this method cost you less (sending an email costs nothing but your time and some effort e.g. thought and at times creativity), the other great thing about email marketing/communicating and continuing to build a relationship with your database is that it eliminates marketing waste. Marketing waste occurs when someone sees your marketing/ad but does not take the desired action you want them to take e.g. when someone has not bought from you. If this occurs, then that prospective client is ‘wasted’ as they have seen your ad, but you have no method of communicating with them again therefore they are a lost lead. However, if at the very least you can get them onto your database (with a lead gen tool) you then have their details and are able to continue to market to them in the future which thus increases the chances of them buying your product or using your service when they are ready to buy. Marketing is a bit like dating. It is likely to take much more than one date to convert that ‘date’ into a more serious relationship, just as it is most likely to take more than one piece of marketing to convert a prospect into a paying customer. Remember, customers and clients don’t buy when we want them to. They buy when they are ready to and unfortunately, we can’t dictate when this will be. Therefore, we need to be at the forefront of their mind at all times so that when the time is right and they are ready to buy, they think of you and your business. In short, getting prospective clients onto your database turns a one time/one shot marketing piece into a series of marketing opportunities, thus increasing the chances of turning that prospect into a paying client.
The other great thing about simply communicating with your current customers/clients (not even selling to them but simply communicating) is that they are a great source of information to inform your service/product and future marketing. By talking with your clients, you can find out what they liked about your business, why they used your service etc. and take those points to help you attract more clients like them. After all, the client you want is like the client you already have.
Finally, your existing clients are also a fantastic source to provide your business with ‘social proof’
and a happy client will likely be more than willing to provide you with a testimonial which you can then use to further promote your products or services. There is nothing quite like social proof to tip a prospective client over the line and into a paying customer. A happy client is likely to be your biggest and best supporter, they will shout about your business and generate great word of mouth marketing for you. So be sure to communicate with them and look after your existing list. There’s gold in there!
So, what is your business leaving on the table by not communicating your services/products with your existing list? Your list is the most likely resource for landing you more business (not more clients) fast.
There’s real value in it.
Written by Ashley Burgess-Payne
Email us: info@connectionsb2b.co.uk
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